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further. >> josh brown, the energy sector is one of only two overweights in the model portfolio that you run, that and health care. how come? >> well, i think it comes down to expectations, and -- and i think energy is the opposite of tech. with tech the expectations were very high, and there was some pretty big disappointments. with energy these stocks had a terrible year last year. no one was looking for anything great. look, we've got strength in crude and got this renaissance in drilling and production here in north america, and as a result the stocks are leading the market year to date and are poised in my opinion for much bigger things based on valuation, low expectation, et cetera, so we like the sector and a lot of names individually that look great. that's what we're focused on rather than trying to get the market direction perfect. >> rick santelli, what are you seeing inters of the energy complex there, in terms of trading on that floor? >> well, i'll tell you what, you know, there was a comment by jeff cox the last hour talking about, you know, we're getting close to $100 oil
. wondering how you can profit from america's energy potential? don't miss cramer's earnings exclusive with the ceo of core labs to discover if it's ready to cash in on crude. >>> and later, the prime time retail king that delivers everything to your door versus the maker of gadgets you never knew you needed but now can't live without. the market's picked its favorite. could things be about to change quickly? stick around for cramer's take all coming up on "mad money." don't miss a second of "mad money." follow @jimcramer on twitter, have a question? tweet cramer #madtweets. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> i'm always talking about the north american oil
and domestic production continues to expand. wondering how you can profit from america's energy potential? don't miss cramer's earnings exclusive with the ceo of core labs to discover if it's ready to cash in on crude. >>> and later, battle of the behemoths. the prime time retail king that delivers everything to your door versus the maker of gadgets you never knew you needed but now can't live without. the market's picked its favorite, but could things be about to change quickly? stick around for cramer's take, all coming up on "mad money." don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. sic:"" music: "make someone happy" ♪it's so important to make someone happy.♪ ♪it's so important to make someone happy.♪ ♪make just one heart to heart you - you sing to♪ ♪one smile that cheers you ♪one face that lights when it nears you.♪ ♪and you will be happy too. i don't have to leave my desk and get up and go
,000 mark for the first time in five years. but how does exxonmobil and chevron, two down energy stocks, and what is their impact on the move. josh lipton is with us. hi, josh. >> each sector has had a different role in the push it 14,000. first up, exxon which beat expectations on the bottom line on strong results and its chemical and refining businesses. but the oil giant also told us that it produced less oil and gas than it said it would back in march. stock right now, basically flat but since the peak in 2 thu 7, energy giant is actually down about 3% of the 880-something point we tacked on in 2013. exxon only contributed 26 points. then chevron, better than expected fourth quarter earnings as its refining business boosted profits. stock right now showing modest gains. but a better long-term story here. chevron is actually up about 24% since october 2007 and has added 60 points to this year's surge. worth noting, the role of the energy sector has also played in this broader rally between 2009 and 2013. energy lagged one of the reasons for nervousness last year, investors anticipate
for a change? >> i think that is where all the initiative and where all the energy is going right now. this is president obama's sequester. the president has failed up until now to come up and offer anything specific beyond talking points and press conferences as to how he proposes to turn the sequester off. and absent that, we don't have any changes. >> many that i thinkthanks, pet. tomorrow i'll chat with eric cantor. he made a major address today at the american enterprise institute. he had across the board ideas to reinvigorate the republican party and the national economy. again, mr. cantor will join me tomorrow. next up this evening, we had a nice recovery rally in the markets today. but here's what i want to know. what effect will the sequester have on stocks? will it be as dire as some say or might it be bullish. we'll get answers. free market capitalism, the best path to prosperity. free market capitalism says shrink government spending to grow the economy. i'm larry kudlow. we'll be right back. all right that's a fifth-floor problem... ok. not in my house! ha ha ha! ha ha ha
energy. right away i'm suspicious. >> a few days before the big game the superdome being lauded for efficiency. so efficient they turned off a half the lights for half the game. according to the nfl there was an abnormality like a power surge and a breaker kicked in. they knew what it was quickly. it takes a while to restart it because generators kicked in. if it was all dark it would have been difficult. everyone was calm. the game was delayed 34 minutes. it was just an embarrassment at best. we don't know exactly what happened. we didn't get a lot of information. >> thankfully it didn't go all dark. that would have been a disaster. that's good. boomer esiason, analyst and former mvp of the nfl, said during rehearsals last week on two occasions beyonce blew out the electricity. >> he said that. >> he said it today, all over the place. >> the other thing. >> he's a smart guy. it's beyonce meets solyndra. >> i spent three days and i was surprised how much of the infrastructure wasn't finished by thursday. they were still constructing a bunch of things leading up to friday. it see
again. we are burning more natural gas than ever as we work quickly to become energy self-sufficient in north america. but let's face it, one of the most bullish tenets of the turn in the united states is cheap energy in the form of big oil finds. and about the lowest natural gas prices in the world. i can say, sure, flaring's a nightmare, or i could say could you imagine the number of jobs this boom will create down the road? remember, every day around here we get companies making moves to bring out value. how many times have we urged hess to break itself up and focus on its incredible oil and gas properties? today they did just that. caused the stock to roar $3.58, 6% on the news. this stock is not done going up. no, not at all. we understand some of this move might be motivated by a hedge fund. they would want some board seats, i say who cares. i just like the newfound value which, again, is not done being brought out. we've got the same thing going on over at transocean, symbol r.i.g. where carl icahn, yes, the one who accused our own scott wapner of bullying, he's bro
ahead of earnings. >> buy toll. >> virtual, doc. >> gap stores, 34. >> long ieo and energy player etf. i think it goes higher. >> that does it for us. don't forts to catch more fast at 5:00 p.m., follow me on twitter and scott wapner cnbc. "power lunch" starts right now. >> indeed it does. welcome to "power lunch," everybody. bulls, large and in charge. the dow trying to wipe out monday's triple digit loss. we have two breaking news stories this hour. president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. >> reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well below the peak of 2009. saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 tr
this morning and you'll see energy prices down about 30 cents. and at this point, the ten-year is yield iing -- trouble role, please. we're frozen at this point. yielding 1.972%. the euro yet was at a 14-month high versus the dollar. and you can see right now, the dollar is stronger against the eu euro. gold prices are down by about 6.30, $1675.30 an ounce. right now, let's get to the global markets report. ross westgate is standing by in london. good morning. we haven't seen you in quite a while. you have a lot of red behind you this morning. >> we have, indeed, becky. i saw andrew more recently than i've seen you over there in davos. yeah, look, we are down. you can see decleaners outpacing the decliners. we're down at the session low. down around .0. the spanish market down 1.5%. that's down to bank stocks. they're all off heavily because of santander. santander is europe's largest lender in the eurozone. stock off 2.3% today. there's 2012 net profit more than halved hurt by big losses in real estate, write-downs and property assets. also key growth spots as latin america down, as well. t
, no. >> changing the face of energy and production. >> and coppano was on the show saying, we know what we're doing. you know what? they make fortunes for their shareholders. great jop copano. >> we're going to see dow 14,000 for the first time in more than over five. the opening bell just minutes away. get ready, another big day of trading ahead on "squawk on the street." [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not ro
. they were the weakest today, your industrials and energy and material stocks and transportation stocks. look at the transports there. all were notably weaker. there's your sector, and those are the ones with the biggest move up. they make the sense on the down side. home business, ryland terrific numbers, all home builders with terrific numbers but there was profit-taking today. the problem is on the valuation. finally, maria, hold on the ten-year note there. look at that. below 2%. back to you. >> all right, bob, thank you so much. back with me is eric from russell developments and our own rick santelli. very good to see you. let me kick this off with you, eric. surprised we took a breather today? >> no, actually given the negative number on gdp expected the market to react a little more violently to the downside. i think it gives you a sense that the market feels like there is no other asset class for them to invest in and there's a little bit of a crisis fatigue. not that those things aren't things to worry about, just that worrying hasn't made money over the last year. >> that's a good p
. and more important, the energy sector. so far in 2013, it's the leader, it's up 8%. sure, oil's increased in price this year, but that's not what's really behind the energy move. no, it's the astounding renaissance of the american oil industry. where we keep finding more and more oil and gas, and the company's doing the findings that keep going higher and higher in price. just think about what core labs, the company with the technology behind finding so much new oil and old places said last night, last night right here when it detailed its quarter. a quarter that by the way drove the stock up $10.44 to finish today, core told us there could be not one, but two gigantic oil fields in this country we don't know about. the size of the bakken and eagleford, the two shales that have made the pipe dream of energy self-sufficiency into a reality that we could see in just a couple year's time. could you imagine? i think america's oil and gas industry is in the early innings of the second game of the dou e double-header. and that's what makes me so hopeful about the rest of the year. beyond just
ounce of energy pip never want to have to be in the same room as beyonce. >> wait she strutted on stage, that is just like michelle coming on to the set. she does have a strut, michelle caruso-cabrera does. i will say that for sure. the nfl says that is not the case, she doesn't cause it. but if there was a power surge and it sucked up energy and then it was gone, maybe there was something to it. but the nfl, as of an hour ago, said she did not have anything to do with it. >> i thought it was beautiful, camera work was just amazing. it was the cam ro work i was paying attention to. sue, help me. >> i'm sure 2 was, ty, absolutely. >> let's talk about clor ox, shall we? strong quarter for that company. stock at historic highs. soundly beating estimates because the severe flu season boosting sales of disinfectant wipes. stock up about 1 1/3 percent. clor ox's ceo will be on here on cnbc. >> and. man behind the broadway hit "the lion king." car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotate
pads, and, you know, technology devices. not in things like education and energy and that's the only sign of inflation. but to joe's point, i think the fed can back off on what they've said if in fact we've seen them pull back. they can walk away from the 6.5% unemployment target and wind down quantitative easing in a much more rapid pace. i think that's a step in the right direction, so it doesn't have to be a train wreck. this could be a gradual pullback of easing where interest rates start going up in the first part of 2014. >> we've been talking about pulling this band aid off for so long. carl, it's like housing, though. schiller wrote a piece in the journal, they said it lasted five years. that was painful. but boy, when it reversed, it was more painful than that time with which you're waiting for it to happen. >> joe, art, thanks, guys. good stuff. >> thank you. >> trading debut here at the nyse today. becoming the largest ipo from a u.s. company since facebook. shares of zoetis is trading at $26 apiece. it's the only way to play it in a pure way, because the other animal medicine
. >> thank you. >>> another piece of news. chesapeake energy co-founder and ceo aubrey mcclendon will be stepping down in april. the move caps off a tumultuous year for the second largest natural gas producer. last spring a series of reports triggered civil and criminal investigations. regulators in chesapeake's board are looking into mcclendon crossed the line by mixing personal and company business and possible trauflt violatiant violations. shareholders stripped him of the chairman's title. the stock is moving higher on the news. actually, a lot higher. 10% higher. and kay kelly will have more details later. i should note, there was a report in reuters this morning that -- in terms of the compensation he's going to get out the door, it may be that the company doesn't owe him money but that he owes the company money. >> interesting. you never want to see a headline like this. when you're a ceo and lead -- "chesapeake shares soar as chief quits." >> it is up 10%. only $2 on a $20 stock. >> the strange part, he was the ghie made the company. there is a flip side to all of
. >> we like a lot of sectors in the equity market. we like energy, materials and industrials, and some of the technology names are looking really pretty right now. >> rick, it's a perfect segue to you. he said the bond market party may be over. is it? >> well, no, i absolutely do not think so. here we are still toying with 2% as we get close to record highs in the dow jones industrial average. there's an incongruent relationship there, just like there's an incongruent relationship with the fact that we're talking about the dow near records, and tomorrow morning at 8:30 eastern i'm going to be telling you that fourth-quarter annualized growth was a paltry 1%. >> peter anderson, you run a firm called congress asset management company. so i'm going to ask you. is washington, is congress the people who can derail this rally? >> well, listen. i don't think the rally is going to be derailed at all. in fact, i think even though we've only had a third of earnings so far, let's look at the results. we've had some very, very strong winners in some very strong losers to. me that's the sign of a b
in there such as cocoa, coffee, sugar, orange juice. i wouldn't touch these charts. the crb is being pulled up by energy and right now crude is looking great. gasoline is looking great. also, i just want to highlight. you brought up 1998. i want to go back a little farther. 1993. we all know that commodities and stocks -- sorry, commodities and bonds have been inversely correlated. commodities actually give you a peek into what bonds are doing and actually bottomed before bonds topped in 1993 and that could also be a little hint into the outflow from the bond world into the stock world so let's keep an eye on the bottom here. >> what about gold? what about gold? are fox in great danger, grave danger, as he said i was because i don't own gold? >> i think so. i think you have to own gold. got to own physical gold outside the financial system. there are ways to do it. i won't touch the etf, and back on bonds, if you go back to just after bastille day last year, there's been a remarkable run up in the yield on the ten-year from about 1.40 to above 2%, that's not a good trend and rising nominal interest rate
'd go across the board so much, i'd go commerce, labor, education, interior, energy. are you kidding me? i would slash everything. i would take out at least a quarter. at least a quarter. i don't care, sequester, i don't even know what it means. what i know is let's get rid of these goofy departments that are bankrupting america. what's your take on that? >> well, got to disagree with you. >> oh. [ laughter ] >> i think that there's certainly a time and place for cuts. as you say earlier, it's usually when the economy is working a little bit better than it is now. i think if you look back historically, the best time for cuts is back to trend growth, which is 3%, not the 2% economy that we're in now. i'll tell you, i just came last week from the world economic forum, one of the big conversation threads there was that we don't want to be europe. europe has gone too far with austerity. and you might say well that's a liberal point of view. but i'll tell you, the american enterprise institute came out with a report this week saying we should take lessons from overseas. we should not do aust
in the energy markets today amid growing tensions in the middle east. yesterday, israel hinted that its air force may have been behind the air strike. on a missile site in syria in order tody stroi weapons it believes were headed for lebanon. you can see right now, crude oil prices down by about 11%. 96.85. and, steve, i'll send it over to you. >> we'll talk to boeing about compensation for the grounding of the dreamliner. it estimates it will cost nearly $8el million through tend of march. barclay's finance director chris lucas and the bank's top legal expert are set to retire. the departures add to change at the top as the financial giant struggles to put disasters behind it. resimple in moment will officially become blackberry today. the rim name doesn't completely disappear until shareholders approve the change at the annual meeting which usually takes place in july, andrew. >> if you went to sleep after halftime at the super bowl last night, you missed a lot and i mean a lot because i thought this game was kind of over. >> that's why you went to bed? >> i didn't go to bed. i stayed up.
beaten down over the last couple of years. this is tech, this is energy, this is big cap, industrials, these are stocks that have basically been -- that have gotten cheaper over the last couple of years, around fears of a global recession, around fears that the rest of the world isn't as strong as the u.s. today, i think that it's time to really reverse that trade and go back into some of the more globally geared gdp sensitive stocks that are cheap, they're underowned, and it looks like the global economy could actually outpace the u.s. this year, and for the next couple of years. >> savita we talked to a bunch of strategists this year who are, i would say, aggressive to -- i mean, mixed in terms of their defensive nature regarding sector allocation, that they might step on the accelerator later on in the year once we get past some of the d.c. deadlines and go more cyclical, go more economically sensitive. would your advice be to err on the side of aggressive? >> i think it's -- there's no better time to do it than now. the reason is that, you know, i think the market looks through a
. the ceo of energy company nrg is going to join us with more. no power problems here as we fire up the lights on the "squawk" set and get ready to make you money. the second hour of "squawk box" starts right now. ♪ >>> good morning, everybody. i'm becky quick along with andrew ross sorkin and steve liesman. joe is off this week. get this, yesterday was the worst performance for the markets since 2013 began. this morning the futures are pointing to a big rebound in the markets. you can see right now the dow futures up by 93 points. s&p futures up by more than nine points. yesterday, they gave back about 129 points for the dow. so at this point it looks like we are starting to see some sort of a big rebound, maybe taking back all that ground it lost yesterday. the dow, in fact, starting off this week as we mentioned with big sell-off. there were renewed concerns out there about europe and some profit taking, as well. the dow actually finishing below that key 14,000 level yesterday. mutual fund pioneer jack bogle spoke with us yesterday on the program and he said individual investor
." >> sticking in the energy trade, i know natural gas is down but i want to add southwestern energy, swn. >> steve. >> qualcomm, own to earnings tomorrow after the close. >> i know it's a struggle but that was good. >> jcpenney, buy the stock looking for a short squeeze, trade through 23 is the move. >> i like amazon, i just would not go into this with a full position so maybe trim. >> that does it for us. don't forget to catch more fast money. follow me on twitter@scott wapn wapn wapner cnbc. only 1.6% away from historic highs, the dow. all that and much more is going to be covered on "power lunch" and that show begins right now. >>> we welcome you to "power lunch." we are closing in on dow 14,000, just give or take 55 points away from the milestone. the dow and s&p getting a big pop in todayng session. right now dow up 62 points, s&p up almost a half a percent. nasdaq composite is the one to the downside but not by much. it's down less than .1%. it all started 90 minutes ago. the dow jones industrial about 55 points away. the s&p and the nasdaq managing to hold their own on the trading
is still well behind recognizing our domestic oil. the second is if we had an en y energy policy in washington and our battle for natural gas into it's thinking. we could smash opec and become the cheapest place on earth and put millions of people to work including in a more secure environment. we are barely scratching the surface of natural gas use. there isn't enough natural gas to sell cars in this country. what a sad set of circumstances. stick with cramer.
we got a number from the energy department. that was a withdrawal that was less than what analysts were anticipating. saw a draw of 194 billion cubic feet of natural gas from storage in the last week. expectations were somewhere between 200 and 204 cubic feet. still the biggest withdrawal of the season. the very cold temperatures we had last week in the northeast, the midwest, even texas, a big reason for the withdrawal that we are seeing but it's not what analysts had anticipated. we are going to have colder temperatures in the week ahead, but still, we are looking at natural gas, trying to hold that support level around 3.25. that was the low when that number came out. if we dip below 320, traders say, technically we could see a drop all the way to the 310 level what traders are watching now. that was highly anticipated report because it is the biggest of the season, but wasn't as big as what some analysts anticipated. melissa, back to you. >> sharon epperson. thank you. >>> negative reading on fourth quarter gdp yesterday surprise the mark, the first jobs report of the year is o
. it the -- the energy situation is tempered by one thing, the white house, so many of the key stone pipeline, there is the president's true colors, there shows there may be no fossil future blessing for everything. i don't want to detract from the optimism all over the place. the hope that is republican party starts talking business. then there is a chance, they don't feel post-fiscal cliff, they don't feel washington is the enemy anywhere. ♪ [ male announcer ] when we built the cadillac ats from the ground up to be the world's best sport sedan... ♪ ...people noticed. ♪ the all-new cadillac ats -- 2013 north american car of the year. ♪ for a limited time, take advantage of this exceptional offer on the all-new cadillac ats.
million people who want to. yahoo! make you want to work there. i liked this call, there was energy, it's no longer, it's as bad as it used to be. they didn't mind paying the taxes. they are buying back stock. what a good call. >> all true. it's an interesting point you make, one that we perhaps don't focus enough on, in creating enthusiasm amongst your own employee base in order to attract talent, in order to keep talent. she seems to be having success at doing that. >> she has charisma. >> it is about free cafeteria food and issuing iphones to employees. >> it's important when it's a turn-around story and there has to be one or two more quarters for the results to be seen. that's a great point you made, because these are needed expectations, the fact that they beat, and they show the business lines weren't doing much worse. but revenues were better than consensus. it was a stability quarter. they bought back a lot of stock, because it's extremely investment friendly. >> a number of directors on the board will be focused on that. dan loeb is still in there. probably will be for some ti
. the best thing we got going for us is that we are very good at extracting a form of energy in the middle part of the country that we don't like to -- that gives manufacturers a comparative -- >> i can't imagine that that's not going to be the thing -- all these other things. there's always something that offsets some of the negatives and i can't believe that's not going to be a powerful thing for us in the future. >> i think so, too. that's how we get to 2.5 demographics are going to be a drag. >> i'm being interested in your perspective. we're not talking about our clients about small businesses. a lot of bentup demand. we've been kind of sitting on our hands for four-plus years now, because of all the uncertainty, you know, in the environment there's still a lot of uncertainty. if we had positive leadership out of washington, and some of the uncertainty went away. don't you think there could be a mini boom here trying to replenish some of the inventories, equipment and technologies that have not been invested in? >> absolutely. that's the upside riz k to the forecast. >> we don't call
. cheaper crude from north american shail fields. >>> chesapeake energy, up a day after chief executive steps down. >>> management push breaks up the company but responding at a later date for hess. >>> if you have an idea and you would like big money behind it, don't move. you will see all it all comes together in the power pitch. if you have a green thumb, with better said gray market, washington state needs you. they are trying to figure out how to regulate their newly legal marijuana industry and it is looking for a czar. ♪ ♪ [ male announcer ] it was designed to escape the ordinary. it feels like it can escape gravity. ♪ the 2013 c-class coupe. ♪ starting at $37,800. ♪ [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >>> so we asked, how interested are you in buying the new blackb
the most. look at declines in materials and energy. these are very modest. we are at highs on tuesday. we are down maybe a percent, maybe a percent and a half on some of these stocks. not a big move and not a lot of volume here. elsewhere, if you look at home builders, there is your other market leader. numbers coming in are fabulous. and you can see a little more notable decline. still modest given the prices in these stocks, a hundred percent in the last six, seven, eight months. i do want to point out, first home builder no go public in ten years happened today. and great pricing. pricing is 14 to $16. $19.05. sue, if you want to know why, to start with, they have starwood behind them. backed by starwood. second, housing recovery. three, they bought a lot of cheap land in your old home state, in california pch and they will build in california as well as colorado. >> 12% gain on the stock. not bad. >> a lot of very happy people. >> i'm sure they are. especially given the industry there. the dow may be down but the nasdaq is up a little bit and seema mody is there, following big movers
to matt simmons, chairman of a major energy investment banking firm. >> their reputation as what a fabulous company they were got created because they made more money than anyone else did on old assets. >> and did they do that by cutting costs? >> well, they had to. but i don't think it was obvious to anybody until now. you look back with the benefit of hindsight. they obviously cut way too many costs. >> couldn't you argue that bp had to cut costs in order to stay profitable, in order to stay in business? >> absolutely, but then the question becomes, at what point do you basically go beyond normal cost-cutting and you're in to reckless behavior? >> but bp's senior executive in charge of refineries, john manzoni, denies that. he told lawyers in this deposition that budget cuts never compromised the safety of bp's employees. >> i don't believe it's the case ever that we short-changed budgets on safety issues. >> if in this trial someone says that bp puts profits over the safety of its people, what would be your response to that? >> my response would be that is not how we run the c
are going on. energy expansion, manufacturing is coming home. we've talked about this many times in the past. the profit reports we've seen thus far is quite encouraging. hard to argue that the market is sending a message that it's in trouble. >> encouraging is in the eye of the beholder. we took these numbers down so far for the fourth quarter it was ridiculous. we're looking at maybe a 3% profit growth this quarter which is not really growth at all in my eyes. you know, some of the other things, too. we talk about inflation that everybody wants to dismiss inflation. the fact of the matter is that we know that the cpi numbers cannot be believed. we know that gas prices are going back up, and at some point all of this is going to come back and nobody is even talking about europe. where is europe in all this? this myth that europe is recovering. >> why is it a myth? >> we're not even talking about it. >> that will come back into play, for sure. >> we're not sure about that. >> the italy elections and debt coming due for election. >> 26% unemployment in spain. >> can you really say that things
%, energy, oil up 7%, maria. the master limited partnerships, up 12%. >> what do they tell us? >> money is flowing in. this dow 14,000, it's a psychological indicator, okay? the united states is doing well, houses, automobile, consumer credit, the ism numbers that came out today, 53, well into expansion territory. china's numbers are looking better so you've got to listen to the markets. the markets predict the economy. the economy does not predict the markets, a little ahead of itself as michael said. michael in hebrew says liken to god and you are liken to god with your predictions. however, the markets basically are saying 54% bulls and only 24% bears. maria, you could see a pullback, but i would say right now buy on any pullback. >> it does seem like this mentality of buy on the dip, exactly what david says is going to basically at the end of the day carry through. you don't think so? >> look at junk debt the last three, four trading days. they have blown out. emerging market sovereign debt, emb, fallen off a cliff. a real hiccup is starting in the credit markets. that could filter
. housing improvement. the energy boom is one of the most outstanding parts of this economy. we may even be seeing a comeback in capital goods business investment, durable goods, factory orders and all that. so maybe we're underestimating the great american economic machine. i know washington's gone wrong. but maybe the internals of the economy are better than we think. >> well, i'm not going to underestimate the private sector. and i'll tell you, one big advantage this economy has right now, we talk a lot about what the economy did in the '80s, that the profit sector is in much, much better shape than it was back coming out of that recession '81, '82. there still had to be a lot of restructuring, there's a lot of inefficiency from the 1970s. so we're starting with a much healthier private sector. i really think that's, we still have some good demand coming from outside the united states. we have china and all things -- we're not worried about the china hard landing. we're not worried about the debt ceiling crisis. we're not worried about, well, for the moment, the eu -- we have that kin
, head start, low income energy. and so to relieve that pressure there will hopefully be a sense in congress and the president that they've got to look where the problem is. entitle accounts. >> maria -- >> go ahead. final word. >> raise the ceiling on income subjective social security. i didn't hear that among the senator's possibilities, but i think that's very, very important. >> actually we did that in the simpson bowles bill as you probably know. that was part of our bill. >> but it has to be enacted. >> we'd love to have the president enact it. it was his commission. >> great point. we'll see you soon. appreciate your time tonight. >>> up next, banner day for clorox. hitting a record high. the ceo will speak with me about the bright outlook after the break. >>> then later trying to turn off the profits. wait until you hear what they're saying about the most expensive musical ever made. don't miss my new documentary tonight betting big on broadway. that's tonight. back in a moment. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicar
emerging markets. i'd buy financials. i'd stick with them. i'd stick with energy. i'd stick with mlps. i like a number of other sectors. >> what about the quality issue? that he just brought up. >> i disagree. i think with the s&p having reported at least 50% of the companies maybe over 60%, the earnings have been good. positively mostly good. >> outside of financials, yes. absolutely. the financials have done well, but if you dig down underneath, what you really see is a cost cutting story. it's not a revenue story. >> right. and they're still cutting costs. >> i agree. >> we'll leave it there. we appreciate your time. >> thank you. >>> and later on we'll take the pulse of the economy from a company that takes everything. donl knaus will join us. today his stock is at an all-time high. >>> meantime heading towards the close with 20 minutes to go. looks like this may be the worst decline for the dow so far this year. the dow with the worst decline was 255 points. we'll keep an eye on this. >>> some top wall street executives sold their company stocks ahead of the rally. wait until you he
've got the financials, the consumer stocks and energy stocks, pharma, food, a healthy rally but can it last going into the final hour in the dow right at 14,000, up 123 points. >> well, last month retail investors put a record 39.3 billion into mutual funds and etfs. here's the bad news. the previous record inflows came at the height of the technology bubble. what does that mean in terms of heading for the exits? is it different this time? we're going to check out the retail behavior. >> also. washington already has enough trouble getting things down these days. now the s.e.c. is literally being handcuffed, really, by what it can and cannot do because of conflicts of interest. i'm picturing the entire s.e.c., why that's undermining enforcement and maybe going to cost you some money next. we'll look at that very important. >> and will dow component dissly fuel the legs of this rally? that news after the bell and ceo bob iger is here live and breaking down the numbers live in a first on cnbc interview. that's today live at 4:20 p.m. eastern. but we can still help you see your big pict
to you. >> thank you, rick. let's check out the latest news in energy in metals. sharon? >> jim, we're looking at oil prices climbing back up after yesterday's slide. and we're watching not only the oil market recovering here, but gasoline futures gaining ground as well. in fact, we're looking at gasoline futures again that are posting because of what we're seeing for the retail price, another gain that right now puts the retail price at the highest levels that we've seen for this time of year. we had an overnight increase of a penny to $3.53 a gallon for the national average. but as mark zandy points out, when we're talking about the economy, it is meaning a lot to consumers. every penny increase in the price of gasoline will cost consumers about $100 million a month. on top of the higher tax bills that a lot of consumers are facing right now, that's going to be a serious debt in their wallet. back to you. >> thanks very much, sharon epperson. did want to talk about a potentially huge deal. i'm not talking about dell, i'm talking about virgin media. it's a company that operates lar
energy partners. good morning to both of you. joe, let's start with you. how do you think the market is going to set up today? we have the ford news, we also have eli lilly and then we got the fed later today. >> it's tough to say. >> he we have one other thing i think that's actually being watched closely today, too, andrew, that's consumer confidence which normally doesn't necessarily get a ton of attention. but i think that because of the expectation is that it's going to come in at a five-month low, many people have their eyes on that one, perhaps much more than they normally would. so i would look for that number, also. you know the fed does start today, but as we know on these two-day meetings, day one is just a lot of waiting and watching. so not a lot there. and the other major factor is obviously s&p 500 cash was just above 1500 last night. looks like it will open a little bit lower there. we saw the vix edging up over the last few days as we head into it. that's a number that makes a lot of people nervous. wouldn't surprise me again if we saw the market take another breathe
've been watching that. a huge move to the down side. potentially more momentum continued that energy that we haven't seen to the downside. but, really, the dollar has been kind of parked at this 80 even level. i think for the most part the fed is enjoying that right now. as i mentioned, i think there are a lot of people bewildered about the fact that amid this strength in the stocks that we haven't seen the dollar coming off. potentially some of the money in the yen coming into that, potentially some of the money coming out of the yen in the stocks. but certainly all eyes on the fed right now. as you mentioned, unemployment coming up later on in the week. i think we're looking for around 7.6, 7.7, a bit of a downtick there, but not enough to get us into that level that you mentioned, around 6en 7. but zee roy signs of inflation right now is completely in line. >> and we will get that data watch, for the fed to talk about how low it's willing to tolerate employment before it moves. thanks so much, ben lichtenstein. >> and don't forget earlier, we marked the 20th anniversary of the etf
if it doesn't go through, but, really, it's taken a long time and it's taken the energy of people very high up in the company, including the ceo, to try to make this transition work. the interesting thing is, if it doesn't, does he want to spend the next year or so trying to get this transaction through? it's going to be very tough. >> yeah. i mean, exactly. as you say, it would be tough. if he doesn't get his transaction through, how can they replace the lost business? what would the likely strategy be sthp. >> well, he has a few options. and that is the first you line up another buyer. now, $8.5 billion in the stock, you know, continually going up, that's not exactly an easy thing. the other thing is, you can't sell down 85.billion in the market. you do it in chunks. that's an option, as well. in each case, it could take some time. >> yeah. how do we see the future development of financial services here in china? are you going to be -- you know, are companies ever going to be allowed some riflely unfettered access? >> products sold in china, products sold overseas. in the end, they turned ou
if there was a little bit of snacking going on. >> the important thing is to keep one's energy lefs up. >> that's right. >> should we look for a sponsorship from a goo company or something. in any case, difficulty over here. we don't have a lot of time on the breaks. >> earlier in the show, we asked you about ratings agencies and whether you always trust their decisions. slade in alaska says he does the opposite of what credit ratings recommend because they're so far behind the curve. >> joey from indiana says credit ratings are now too stringent. >> yep. not a lot of faith necessarily in those firms. we mentioned competitiveness. we're talking about immigration reform at the white house. joining us on the table is now roger dafen. just around the corner from us here in london. thank you for coming by. >> pleasure. >> do you agree with what the white house is saying and what a lot of these ceos seem to be saying which is that the country is suffering a lack of competitiveness because of the lack of immigration policy? is this the next issue on the agenda? >> i think it's one of the issues. look at how
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